Apotex Inc. founder and Chairman Barry Sherman and his wife, Honey, were found dead in their Toronto home Friday, said the company and Ontario Health Minister Eric Hoskins.

“We’ve been informed of the tragic news that Barry and Honey Sherman have unexpectedly passed away,” Apotex, a generic-drug maker, said in a statement Friday. “All of us at Apotex are deeply shocked and saddened by this news and our thoughts and prayers are with the family at this time.”

Mr. Hoskins, minister of health and long-term care for the Ontario province, said Mr. Sherman and his wife were found dead earlier in the day, adding that it is a “very, very sad day.”

Toronto Police Constable David Hopkinson said authorities were treating the deaths as “suspicious,” but haven't determined whether homicide was involved. He also said the police wouldn’t officially identify the bodies because they have yet to notify the next of kin.

Mr. Sherman founded Apotex in 1974 as a pharmaceutical company that specializes in generic medicine. The company started with just two employees and has grown to more than 11,000 people world-wide, producing approximately 25 billion doses a year, according to the company’s website.

Mr. Sherman’s net worth was recently estimated to be $3.7 billion by Canadian Business, an online magazine, making him one of Canada’s richest people.

Mr. Sherman was recently being investigated by a federal lobbying commissioner looking into a fundraising dinner held at his home in August 2015, which featured Canadian Prime Minister Justin Trudeau as a guest of honor, according to a September article in Canada’s Globe and Mail newspaper.